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IMPORTANT UPDATE - JUNE 2017:
CRA has indicated their intent to severely restrict their approval of Voluntary Disclosure applications after Dec 31, 2017.
Your ability to reduce late filing tax penalties and related interest will, in our view, be almost non-existent or at the very least fraught with much more uncertainty by the end of the year.
Call us to discuss these issues. We encourage you to file and apply (if eligible under present regulations) for Voluntary Disclosure now. We can help.
TaxWatch Canada works closely with you, providing a personable service with your best interest in mind.
There are two things that we can help you with almost immediately:
#1 - LET'S DO THE NUMBERS TO DETERMINE YOUR TAX LIABILITY
- Gather the information and have the unfiled draft returns completed for the years you have to file.
- Estimate the expected amount of penalties and interest that may apply.
- Consider all legitimate avenues to reduce the tax.
- Reflect on your current or potential status with CRA. This is particularly true if you are considering voluntary disclosure.
#2 LET'S TAKE CONTROL AND MANAGE WITH FOCUS
- Setting priorities
- Constant, deliberate but mindful communications with CRA
- Determining and acting on filing positions
- Voluntary Disclosure applications (if eligible)
- Handling timing issues
- Minimizing costs
- Considering the consequences for those related to you (surprises abound)
Read more about late tax filing on our Blog.
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We work with clients all over Canada